3M to Spin Off $8.6B Health Care Unit, Posts Broad Declines
It could take until the end of 2023 to complete, after which 3M will retain a 19.9% stake.
July 2022
Major Industrial Distributors Don’t Sound Too Concerned About a Downturn
Fastenal, MSC Industrial Supply, MRC Global and more have voiced considerable optimism despite numerous economic red flags.
Franklin Electric Adds Industrial, Engineered Systems Executives
Matt Murray joins as senior business unit manager for industrial distribution and Mike Smith joins as senior business unit manager for fleet.
QuickTake: Innovation from Strategic Deals Challenges PE Playbook
Mike Marks and Tom Gale explore the impact of recent landmark acquisitions and how the mission of strategic deals runs counter to that of private equity.
Single-Family Housing Starts at 2-Year Low
For the first time since summer 2020, both single-family starts and permits fell below a 1 million annual pace, NAHB says.
GMS Appoints New Chief Operating Officer
Travis Hendren will be responsible for all field operations supporting the company’s distribution yards, GMS Inc. said.
Stanley Black & Decker Completes $3.2B Security Sale
The transaction was initially announced on Dec. 8, 2021, and Security generated approximately $1.6 billion in revenue that year.
Snap-on 2Q Sales Rise 5%
The manufacturer reported second-quarter 2022 sales of $1.136 billion, an increase of $55.2 million over the same period last year.
Littelfuse Finalizes C&K Switches Deal
The industrial technology manufacturing company financed the transaction through a combination of available cash and debt.
What’s Your Vision? Get Back to Looking Forward
The pandemic forced many distribution leaders to focus on day-to-day operations. Dirk Beveridge advises on how to turn focus back to future opportunities.
OTC Partners with Quincy Compressors
OTC Industrial Technologies has partnered with Quincy Compressors, a manufacturer of reciprocating and rotary screw air compressors.
PoolCorp 2Q Sales Rise 15%
The Louisiana company reported ‘record’ second-quarter sales for 2022, up 15% from last year to $2.1 billion.
MDM MarketPulse: 2Q Decelerates to Match Expectations
It is the first time since the fourth quarter of 2020 that annualized growth rate didn’t outperform expectations, according to the Second Quarter Baird-MDM Industrial Distribution Survey.
What Distributors are Saying About Returning to the Office
We share new comments from distributors regarding whether they plan to require employees to fully return to in-person work in the next year.
Bosch Rexroth Acquires HydraForce
The companies hope combined activities and product portfolios will help create a well-balanced entity and more growth in existing regions.
Munch’s Supply Adds 2 Acquisitions
The acquisitions, Wholesale Sheet Metal and Pile Protections Tops, will expand Munch's geographic footprint to 71 locations.
PTDA Announces More Details for 2022 Industry Summit
The Power Transmission Distributors Association will convene for its 2022 Industry Summit in Nashville Oct. 27-29.
Curbell Exec DelGado Named IAPD VP
Peter DelGado, senior director of sales and customer service, was promoted to vice president of the board of directors for the International Association of Plastics Distribution.
What Sustainability Looks Like at Ferguson
In a new MDM Podcast, Ferguson's Denise Vaughn talks about how the company conducts operations with a lighter footprint while creating positive impact for its stakeholders.
Schaedler Yesco Moves to Larger Facility
The new facility in Allentown, Pennsylvania, spans 30,269 square feet to support increased inventory and space for new services.
